INSURANCE NEWS

After 189 Bodies Were Found in Colorado Funeral Home, Evidence Suggests Families Received Fake Ashes

A Colorado funeral home where 189 decaying bodies were discovered this month appears to have fabricated cremation records and may have given families fake ashes, according to information gathered by The Associated Press from customers and crematories. The families that …
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Texas Cities Struggle to Quit Coal Power as Demand Rises and Market Incentives Favor Fossil Fuels

Two dates in recent memory have shaped the uncertain future of the Fayette Power Project, a coal-fired power plant near La Grange. First, on March 26, 2020, the Austin City Council approved an emissions-reduction plan that called for its city-owned …
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Illinois City to Pay $1.9 Million Settlement to Teen Shot by Officer in Gun Battle With Bank Robbery Suspect

CHICAGO (AP) – A teenager who was shot and wounded during a 2019 shootout between suburban Chicago police and a bank robbery suspect inside a music school has reached a $1.9 million settlement with the city of Des Plaines. Rylan …
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Former Baylor Football Coach, Athletic Director Cleared From Title IX Lawsuits

WACO, Texas (AP) – A U.S. District Judge has dismissed former Baylor football coach Art Briles and former athletic direcor Ian McCaw from a federal Title IX lawsuit, ruling no reasonable jury could find them negligent in the domestic violence …
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Badger Mutual Insurance Company Downgraded by AM Best

AM Best has downgraded the Financial Strength Rating to C++ (Marginal) from B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “b+” (Marginal) from “bbb-” (Good) of Badger Mutual Insurance Company based in Milwaukee, Wi. The outlook of …
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Ohio Supreme Court Upholds Escape Clause in Progressive Auto Liability Policy

Acuity and Progressive Specialty Insurance Co. disputed who should pay after a 16-year-old boy borrowed a friend’s car and crashed it into a utility pole in Streetsboro, Ohio. The driver was insured by Acuity through a policy issued to his …
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American Family Shuts Down Some Systems to Investigate ‘Unusual Activity’

American Family Insurance shut down “several business systems” after the insurer said it “detected unusual activity in a portion of its network” In an email to Insurance Journal, the Madison, Wisconsin-based insurer said its technology teams discovered the activity last …
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Report: Young Driver Fatality Rates in the US Have Fallen Sharply

Crash and fatality rates among drivers under 21 have fallen dramatically in the U.S. during the past 20 years, a new report says, while noting young drivers are still the riskiest group behind the wheel. Using data from 2002-2021, a …
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Hurricanes Now Twice as Likely to Spin up from Minor to Whopper, Study Says

With warmer oceans serving as fuel, Atlantic hurricanes are now more than twice as likely as before to rapidly intensify from wimpy minor hurricanes to powerful and catastrophic, a study said Thursday. Last month Hurricane Lee went from barely a …
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US Justice Department Issues Subpoenas to Tesla in Ongoing Probes

The U.S. Justice Department has sought documents and issued subpoenas to Tesla as it scrutinizes the automaker’s driver assistance system Autopilot and vehicle driving range, among other issues, the company said on Monday. Tesla said in a regulatory filing it …
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People Moves: Sompo Int’l Taps Generali’s Conde-Salazar for Distribution & Client Relationships, AIG’s Marcén to Lead Professional Lines in Iberia

Sompo Int’l Taps Generali’s Conde-Salazar for Distribution & Client Relationships, AIG’s Marcén for Professional Lines in Iberia Sompo International announced two appointments for its Iberian Insurance operation, José María Conde-Salazar as head of Distribution & Client Relationship Management, and Olivier …
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White Mountains to Acquire a Majority Stake in Bamboo in California

White Mountains Insurance Group, Ltd. entered into an agreement to acquire a majority stake in Bamboo Ide8 Insurance Services, LLC (“Bamboo”), an MGA focused on the California homeowners insurance market. White Mountains expects to invest roughly $285 million, including primary …
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